The Federal Reserve on Tuesday announced written agreements with three companies.
Calwest Bancorp in Rancho Santa Margarita, Calif., agreed to serve as a source of strength to its $178.3 million-asset South County Bank. The bank signed a consent order with the Office of the Comptroller of the Currency in late January. The company has 60 days to provide the Fed with a 2011 cash-flow projection, among other things.
First Financial Service Corp. in Elizabethtown, Ky., agreed to serve as a source of strength to its $1.29 billion-asset First Federal Savings Bank of Elizabethtown Inc., which has been under a consent order with the Federal Deposit Insurance Corp. since late January. The company must provide the Fed a plan within 60 days to maintain sufficient capital.
Regent Bancorp Inc. in Davie, Fla., agreed to serve as a source of strength to its $487.8 million-asset Regent Bank. The bank has been under a consent order with the FDIC and state regulator since November. The company has 60 days to provide regulators with a plan to maintain sufficient capital.
